Tech Tip #107-Ledger Overdrafts Are Avoidable

Tech Tip Ledger Overdrafrs

A ledger shows the amount of client funds a particular matter has. Understand that disbursements or invoice payments shouldn’t affect any balance other than the related matter in terms of ledgers. CosmoLex has your back by not allowing overdrafts from a matter and will give you the reason why. For more helpful tricks in handling client […]

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Tech Tip #105-Make The 3-Way Reconciliation Process Easier By Migrating Your Data

Tech Tip Reconciliation Process

The 3-Way Reconciliation Process can be a challenging endeavor for law firms. While it’s required to do this every 30-60 days, it is extremely beneficial to complete the process much more frequently. The problem is the process can be both long and difficult. Migrating all of your legal accounting data into CosmoLex will give your […]

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Tech Tip #95-Irrespective of Where You Keep Your Client Funds, Keep Them Separate

Tech Tip Client Funds

It’s not secret that lawyers utilize retainers to maintain positive cash flow for their firm. In most jurisdictions, all client funds must be kept in trust accounts, but in few jurisdictions, such as NJ, NY, client advances may be kept in operating accounts. Regardless of whether your firm keeps client funds in an operating or […]

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